Smooth Closings in Costa Rica
Closing on a property in Costa Rica is different from the US or Canada. There are no title companies in the traditional sense — instead, a notario público (notary-attorney) handles the transfer. SIXPERCENT coordinates the entire process.
The Closing Process
- Purchase Agreement: Signed by buyer and seller, outlining terms, price, and conditions
- Due Diligence: Title search, survey verification, lien check, inspections (typically 30–60 days)
- Escrow: Deposit held in escrow (we recommend always using escrow)
- Notario Preparation: The notario prepares the transfer deed (escritura)
- Signing: Both parties sign before the notario (or via power of attorney)
- Fund Transfer: Balance transferred to seller; escrow released
- Registration: Notario registers the transfer at the Registro Nacional
- Confirmation: New title issued in buyer's name (typically 2–4 weeks)
Closing Costs Breakdown
| Item | Cost |
|---|---|
| Transfer tax | 1.5% of property value |
| Notary fees | 1–1.5% |
| Registration stamps/fees | ~0.5% |
| Legal fees | 1–1.5% |
| Total | 4–5.5% |
💡 Always use escrow for property transactions in Costa Rica. While not legally required, it protects both buyer and seller by ensuring funds are only released when all conditions are met.